Double Top pattern spotted in Gold. Pattern will be confirmed IF PRICE CLOSES BELOW 1381.75. So shorts need to wait. Price would fall to 1332 as indicated by the pattern. 1382 acting as a support cannot be ruled out. Hence trades can be planned as below,
1. Long when price hit 1382 with stop below 1380 (or)
2. Short if price closes below 1381.75 with stop above 1385.
(Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
1. Long when price hit 1382 with stop below 1380 (or)
2. Short if price closes below 1381.75 with stop above 1385.
(Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)